LIQUID COMICS COMPLETES MANAGEMENT BUYOUT OF VIRGIN COMICS

NEW YORK, NY, September 24, 2008 – Liquid Comics has completed the management buyout of Virgin Comics led by the founding management team of Gotham Chopra, Sharad Devarajan and Suresh Seetharaman. Liquid Comics will continue to develop innovative digital, film, animation, and gaming projects for its original character, stories and other properties.

Commenting on the change, Sharad Devarajan said, “Virgin Group has been a fantastic partner with whom to work and together we have established a strong foundation of great character properties and media partnerships. We remain fully committed to continuing our mission to provide a home for innovative creators and storytellers across the world.”

Virgin Group senior vice president of corporate development Dan Porter added, “The management team has a track record of great relationships with artists and media partners. Under this new ownership structure, the company is well positioned for future growth in the rapidly changing global comic space. As Virgin Group focuses on its core activities in North America, we wish them well in building their exciting business.”

Founded in 2005, Virgin Comics is a character entertainment company that has forged partnerships with Warner Brothers, New Regency, Sony Online Entertainment, Sci Fi Channel, Studio 18, UTV and others. Under the new Liquid Comics name, the management team plans to proceed with a number of the projects previously announced as Virgin Comics and will make announcements shortly regarding those projects and the restructured launch dates.